Abstract
Water rights and water markets are increasingly important as cost-effective tools for managing scare water resources by stimulating efficiently uses. A clear and stable water rights system is necessary for sustaining world’s agricultural productions and global food security. However, knowledge gap still exists on identifying the critical elements and their interactions in the water rights system in the context of changing environments. This paper establishes a systematic framework of water rights based on the current practices in China. The relationships among water rights, water entitlements, water-abstraction permits, water rights certificates and seasonal allocations are explained. The water trading rules, trading systems among regions, sectors and individual famers as well as the trading platforms and brokers in China are also discussed for managerial implications. Suggestions are provided to improve China’s water rights and markets by drawing upon the experiences of current practices according to the proposed framework.
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